Sale to Tennant Company

Industrial
Sale to Tennant Company

Summary

Baird served as the financial advisor to Ambienta SGR S.p.A on this transaction

About

IP Cleaning S.p.A. (“IPC” or the “Company”), a portfolio company of Ambienta SGR S.p.A. (“Ambienta”), was recently acquired by Tennant Company (“Tennant”) (NYSE:TNC) for a total consideration of €330 million.

IPC is a leading provider of professional cleaning solutions for commercial markets. The Company has 11 offices worldwide and sells in more than 100 countries. The Company is headquartered in Portogruaro, Italy.

Ambienta is a European private equity firm focused on industrial growth investing in companies driven by environmental trends. With funds under management of over €500 million, Ambienta has completed a number of investments throughout Europe in the areas of resource efficiency and pollution control. Ambienta operates out of offices in Milan, Italy, Düsseldorf, Germany and London, the United Kingdom.

Tennant is a world leader in designing, manufacturing and marketing professional cleaning solutions. Tennant’s products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant sells its products directly in 15 countries and through distributors in more than 80 countries. Tennant is headquartered in Minneapolis, Minnesota.
CONTACT US TO LEARN MORE
Industrial
Sale to Tennant Company
Date
April 2017
Company
IP Cleaning S.p.A.
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
North America

Share